Wednesday, April 22, 2009

Far from finished

We're happy to report, that the GREEN HOUSE® Campaign now has $5.6 million of the required $14 million needed to make the project a reality. It was a huge victory getting the capital funding allocation from the State, but it isn't the end of the road -- it's really just the "take off".

The new funds should greatly enhance our applications for $3.9 million in New Markets Tax Credits and major dollar requests to the France-Merrick Foundation and the Harry and Jeannette Weinberg Foundation later this year.

In the meantime - some bad news to share - the Abell Foundation turned down our request for $150,000 toward predevelopment expenses for the Green House and Village Center we have proposed for the final development parcel at Stadium Place, citing "the current economic climate...has made it impossible for the Foundation to honor all worthy projects."

Any ideas or efforts on your part to identify possible funding sources are welcome!

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